Cryptocurrencies

Banks have been in the financial industry for years and are considered the backbone of the financial world. Banking networks have provided various services, including lending, saving, and borrowing. However, this guide will focus more on the lending part of banking systems. Lending involves allowing others to get money but sign an agreement of future payment of the lent sum. The interactions between the parties involved in a lending contract and the interest rates will help determine the best option…

The current financial system experiences a myriad of issues that, in most cases, denies individuals access to financial services. Poverty rates continue to increase when users are financially excluded as statistics register the unbanked population to about 2 billion worldwide.  The launch of Bitcoin in 2009 by Satoshi Nakamoto aimed at substituting the traditional financial model with a fast and more advanced architecture. The outcome is evident since the number of digital currencies continues to increase, accumulating an overall market…

Ethereum is trading at $2,330.60, following a massive rally that has seen its price increase by 28.44% a few days ago. Generally, ETH signaled bullish sentiments, but the bulls must have sufficient momentum to reach the $2390 to test the $2400 mark.  A close above the $2,400 level could set the pace for more gains. The next significant barrier for the bulls could be near the $2,500 level, followed by $2,520. Any more upsides might call for a $2,600 resistance…

Cryptocurrencies present an impactful stride in the financial system, especially to individuals lacking access to financial services. Through digital assets and blockchain technology, users worldwide can conduct transactions at lower fees, generate passive incomes, and establish stronger communities.  Despite various downsides such as volatility or complex understanding, virtual currencies show a growing interest and recognition from millions of retail and institutional investors. However, the pace of adoption largely depends on monetary sovereignty since the authorities have regulatory powers on whether…

Robinhood stock trading app priced its initial public offering at the low end of its estimated range. The company targets to sell about 55 million shares at that range to raise over $2.3 billion. Robinhood plans to hit the markets on Thursday. On Wednesday, Robinhood said that it would trade under the ticker HOOD. However, instead of selling the bulk of its shares to institutional investors like most IPOs, It is pricing its initial public offering up to 35% a…

Bitcoin has been range-bound since a massive sell-off hit the crypto market through April and May of this year. That retracement wiped out about $1 trillion from the combined market cap of cryptocurrencies and saw BNB, XRP, and DOGE shed approximately 50% off their recent peaks. However, that bearish trend reversed this past week after BTC bulls managed to flip the $30K resistance into support. Although the world's first crypto started the week on a muted note that saw it…

Following the eruption of Covid-19 that caused a global standstill, modern healthcare systems are finding a challenge in dealing with abrupt health emergencies. As a result, the deadly virus continues to strike numerous regions, with data recording cases surpassing the 180 million mark.  The global economy is also crippling due to the coronavirus pandemic, forcing governments to look for advanced mechanisms to boost a nation's development efforts. Such solutions include cryptocurrencies which represent digital versions of money.  Another additional solution…

Payment provider company PayPal has lifted the purchase limit of bitcoin and other cryptocurrencies to $100,000 per week for eligible customers in the United States and removed annual limits altogether. The company is also getting rid of its yearly purchase limit of $50,000. PayPal's weekly crypto purchase limit was $20,000 in February. The payments giant first let customers buy, sell, and hold cryptocurrencies — bitcoin, ethereum, bitcoin cash, and litecoin — directly from their PayPal accounts in October 2020, following…

According to reports from PwC, over 85% of central banks are either investigating or on pilot programs for digital versions of fiat currencies. The digital versions are now gaining traction as Central Bank Digital Currencies (CBDC), with China taking the lead with the e-yuan. However, while many countries seem ambitious about this version of virtual currencies, it doesn't mean they embrace cryptocurrencies. CBDCs are not cryptocurrencies, and some governments developing them have even banned cryptocurrencies. China is one of the…